Yangarra Resources Ltd. reported operations results for the fourth quarter of 2011. For the quarter, average production, based on field estimates, for the fourth quarter was approximately 1,600 boe/d (40% Oil & NGL s) a 28% increase from the third quarter and 110% increase over the fourth quarter of 2010. On a per share basis, the production increased by 44% over the fourth quarter of 2010. Production averaged 1,900 boe/d for the month of December. Two wells that were flowing at a combined rate of 600 boe/d net to Yangarra were shut-in by the operator for the months of December 2011 and January 2012 to allow for drilling on multi-well pads and for the installation of incremental compression. The planned 2012 capital expenditures have been reduced from $50 million to $35 million. With the revised capital budget the company will drill 16 gross horizontal wells with an increased focus on wells with high oil and natural gas liquid (NGL) volumes. The company will operate the drilling program with one drilling rig instead of two drilling rigs as originally planned. The previously provided 2012 guidance has been revised for shut-in production, reduced capital and a lower natural gas price. The $35 million of capital spending in 2012 results in a mid-range average production growth of 88% from 2011. Cash flow from operations are expected between $25 million to $30 million. Capital expenditures are expected $35 million. The company expects crude oil WTI of $85.00/bbl, Natural Gas Liquids of $65.00/bbl and Natural Gas of $2.50/mcf.